Insmed (NASDAQ:INSM) Hits New 52-Week High – What’s Next?

Shares of Insmed Incorporated (NASDAQ:INSM) hit a new 52-week high during trading on Tuesday . The company traded as high as $82.04 and last traded at $81.24, with a volume of 601359 shares. The stock had previously closed at $79.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company boosted their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley boosted their target price on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research report on Wednesday. One analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.86.

Insmed Price Performance

The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a market cap of $14.96 billion, a PE ratio of -15.06 and a beta of 1.11. The firm’s fifty day simple moving average is $73.87 and its two-hundred day simple moving average is $73.45.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). As a group, research analysts expect that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Transactions at Insmed

In other news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total value of $1,519,312.50. Following the transaction, the chief executive officer now owns 334,186 shares of the company’s stock, valued at approximately $27,079,091.58. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the transaction, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 532,207 shares of company stock valued at $41,400,465. 4.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in Insmed in the fourth quarter worth $259,000. Fourth Dimension Wealth LLC bought a new stake in Insmed in the fourth quarter worth $278,000. Vise Technologies Inc. increased its position in Insmed by 6.3% in the fourth quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock worth $389,000 after purchasing an additional 336 shares during the last quarter. Castleark Management LLC increased its position in Insmed by 21.9% in the fourth quarter. Castleark Management LLC now owns 52,780 shares of the biopharmaceutical company’s stock worth $3,644,000 after purchasing an additional 9,480 shares during the last quarter. Finally, Elequin Capital LP bought a new stake in Insmed in the fourth quarter worth $28,000.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.